Cullen Investment Group LTD. Takes Position in Schlumberger Limited (NYSE:SLB)

Cullen Investment Group LTD. acquired a new stake in Schlumberger Limited (NYSE:SLB) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 11,259 shares of the oil and gas company’s stock, valued at approximately $586,000.

Several other large investors also recently modified their holdings of the stock. Acadian Asset Management LLC bought a new stake in Schlumberger during the 1st quarter worth approximately $25,000. Cetera Investment Advisers grew its position in Schlumberger by 35.3% during the 1st quarter. Cetera Investment Advisers now owns 39,287 shares of the oil and gas company’s stock worth $1,623,000 after acquiring an additional 10,240 shares during the last quarter. Dakota Wealth Management bought a new stake in Schlumberger during the 1st quarter worth approximately $232,000. Sequoia Financial Advisors LLC bought a new stake in Schlumberger during the 1st quarter worth approximately $419,000. Finally, Baird Financial Group Inc. grew its position in Schlumberger by 2.9% during the 1st quarter. Baird Financial Group Inc. now owns 112,003 shares of the oil and gas company’s stock worth $4,627,000 after acquiring an additional 3,209 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Price Performance

SLB opened at $51.67 on Tuesday. The company has a fifty day simple moving average of $51.36 and a 200 day simple moving average of $52.56. The stock has a market cap of $73.75 billion, a P/E ratio of 17.70, a P/E/G ratio of 0.94 and a beta of 1.60. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 12 month low of $42.73 and a 12 month high of $62.12.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 19th. The oil and gas company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The firm had revenue of $8.99 billion during the quarter, compared to analysts’ expectations of $8.96 billion. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. The company’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 EPS. On average, research analysts expect that Schlumberger Limited will post 3.52 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Wednesday, February 7th were paid a $0.25 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $1.00 annualized dividend and a yield of 1.94%. Schlumberger’s dividend payout ratio (DPR) is currently 34.25%.

Insider Activity at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 38,570 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $50.42, for a total value of $1,944,699.40. Following the completion of the sale, the executive vice president now directly owns 386,841 shares in the company, valued at approximately $19,504,523.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Schlumberger news, EVP Mogharbel Khaled Al sold 38,570 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $50.42, for a total transaction of $1,944,699.40. Following the completion of the sale, the executive vice president now directly owns 386,841 shares in the company, valued at $19,504,523.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Howard Guild sold 22,853 shares of Schlumberger stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $51.66, for a total transaction of $1,180,585.98. Following the completion of the sale, the chief accounting officer now owns 22,181 shares of the company’s stock, valued at $1,145,870.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,191 shares of company stock worth $8,636,322. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SLB shares. Royal Bank of Canada increased their price target on Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Barclays reduced their price objective on Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Stifel Nicolaus upped their price objective on Schlumberger from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Susquehanna reaffirmed a “positive” rating and set a $77.00 price objective on shares of Schlumberger in a report on Monday, April 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.31.

Schlumberger Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.